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by danrl
1268 days ago
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> The oil market is a fully globalized commodity and there is no "American picture" I agree that this is the current state. However, this can quickly change at the whim of the US president and doesn't even need congressional approval. In fact, we have seen increasing request from within the US to decouple from the global market and hence have a "domestic" and a global oil price. I don't know how this would play out if it ever happens. But all the legal groundwork is there and the US president can impose an oil export ban at any time if he wishes to do so. Examples of requests to do so (without success so far): * https://www.congress.gov/bill/117th-congress/senate-bill/141... * https://energycommerce.house.gov/sites/democrats.energycomme... The saddest part is, that the US has great solar and wind potential but the least incentive for a mass transition given the opportunity to decouple from the global commodity market at any time (elections anyone?) |
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